Thematic Investing in Tech and Media, CM Research

Cyrus Mewawalla

Thematic Investing in Tech and Media

Thematic TMT investing

CM Research

CM Research is an independent research house based in London, England. We provide global thematic research in the Technology, Media and Telecoms (TMT) sectors. 

Our focus is on disruptive technologies: how will they unfold; which industries will be impacted; and who will be the ultimate winners and losers. 

Our aim is to help investors predict share prices and corporate executives stay one step ahead of the technology trends that are shaping their industry. 

We research technology investment themes in detail and then feed the results into a scorecard system to quantify the impact of several conflicting themes on individual stocks. 

Recent themes covered include internet TV, the Internet of Things, Big Data, Mobile payments, crowdfunding, artificial intelligence, the cloud, software defined networking and Generation Hashtag.

We cover the top 500 global TMT stocks by market capitalisation and several technology start-ups and pre-IPO companies too. 

In 2015, CM Research analysts outperformed the Bloomberg Benchmark Analyst Index - which measures how good analysts are at predicting stock prices - by 7.1%.

Thematic (Sector/Industry)

<ul><li>Internet TV is the most important theme driving Walt Disney’s share price and those of other TV networks</li><li>We have increased the weighting of this theme as an earnings driver for the TV broadcasting sector from 5% four years ago to 45% today.</li><li>Expect profit warnings from Disney related to its TV networks business</li><li>Sell Disney shares</li><li>Underweight the global TV broadcasting sector</li></ul>

Internet TV is the most important theme driving Walt Disney’s share price and those of other TV networksWe have increased the weighting of this theme as an earnings driver for the TV broadcasting sector from 5% four years ago to 45% today.Expect profit warnings from Disney related to its TV networks businessSell Disney sharesUnderweight the global TV broadcasting sector

Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

For as long as I can remember, BEC World has always been the most valuable media company in Thailand...until now. There was a time when Panya Nirunkul was just an actor and gameshow host at BEC, but today, the company he founded, Workpoint, which operates the third largest channel in Thailand and is a leader in the gameshow segment, has now surpassed his former employer in market value! The tale reminds me of how two Sears store managers, Arthur Blank and Bernard Marcus, went out to start Home…

For as long as I can remember, BEC World has always been the most valuable media company in Thailand...until now. There was a time when Panya Nirunkul was just an actor and gameshow host at BEC, but today, the company he founded, Workpoint, which operates the third largest channel in Thailand and is a leader in the gameshow segment, has now surpassed his former employer in market value! The tale reminds me of how two Sears store managers, Arthur Blank and Bernard Marcus, went out to start Home…

Thai Media Spotlight: The Rise of Workpoint

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

Equity Bottom-Up

The appointment of John Kodera to replace Andrew House as head of <a href="https://www.smartkarma.com/entities/563" target="_blank" data-smartkarma-citation="entities:563:1">Sony's (6758 JP)</a> gaming business is further indication that PS Vue is doing well. Kodera is a 25-year veteran of Sony, so this is very much an internal promotion – and a logical one, in that he was head of the network side of the PlayStation business (SIE). However, while the network side of the business has done very well, and accounts for most of the division’s revenues, arguably this is down to the hardware, and the network…

The appointment of John Kodera to replace Andrew House as head of Sony's (6758 JP) gaming business is further indication that PS Vue is doing well. Kodera is a 25-year veteran of Sony, so this is very much an internal promotion – and a logical one, in that he was head of the network side of the PlayStation business (SIE). However, while the network side of the business has done very well, and accounts for most of the division’s revenues, arguably this is down to the hardware, and the network…

Sony (6758) - Positive Readthrough from the John Kodera Appointment

Quality vs Quantity. The actual number of blockbusters in Q4'17 this year may not be so large, but we are expecting them to have quite an impact to Major's momentum, thanks to the high level of anticipation for some of them. Clearly, Disney will be the studio with the biggest hits, such as Star Wars: Last Jedi and Thor Ragnarok, as they play on the Mark Hamill nostalgia and the mystery of why Thor was suddenly missing when his Avenger buddies were duking it out in Civil War. Warner will no doubt…

Quality vs Quantity. The actual number of blockbusters in Q4'17 this year may not be so large, but we are expecting them to have quite an impact to Major's momentum, thanks to the high level of anticipation for some of them. Clearly, Disney will be the studio with the biggest hits, such as Star Wars: Last Jedi and Thor Ragnarok, as they play on the Mark Hamill nostalgia and the mystery of why Thor was suddenly missing when his Avenger buddies were duking it out in Civil War. Warner will no doubt…

Thai Media Spotlight: Fewer But Major Hits in Q4'17

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Pop-up shop format works well in the licensing industry. They can act as billboards for the franchise, enabling licensors to communicate the brand story directly with consumers. Recently, increasing number of business have been experimenting with the model by opening outlets at cinemas and live shows using it to communicate their lifestyle license image with fans. There has even been an example of a rather unusual permanent pop-up shop launch thanks to a new collaboration with the world’s largest licensor and an electronics retailer, as unlikely as that may sound to many.

Pop-up shop format works well in the licensing industry. They can act as billboards for the franchise, enabling licensors to communicate the brand story directly with consumers. Recently, increasing number of business have been experimenting with the model by opening outlets at cinemas and live shows using it to communicate their lifestyle license image with fans. There has even been an example of a rather unusual permanent pop-up shop launch thanks to a new collaboration with the world’s largest licensor and an electronics retailer, as unlikely as that may sound to many.

Licensors and Retailers Increasingly Experiment with the "Pop-Up" Store Model in Licensing

United States

The Walt Disney Company is an entertainment company that conducts operations in media networks, studio entertainment, theme parks and resorts, consumer products, and interactive media. The Company produces motion pictures, television programs, and musical recordings, as well as books and magazines.

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The Walt Disney Co (DIS US)

Sell Disney; Underweight TV Broadcasters

Internet TV is the most important theme driving Walt Disney’s share price and those of other TV networks We have increased the weighting of this...

CM Research

Thai Media Spotlight: The Rise of Workpoint

For as long as I can remember, BEC World has always been the most valuable media company in Thailand...until now. There was a time when Panya...

Athaporn Arayasantiparb, CFA

Sony (6758) - Positive Readthrough from the John Kodera Appointment

The appointment of John Kodera to replace Andrew House as head of Sony's (6758 JP) gaming business is further indication that PS Vue is doing well....

Pelham Smithers Associates

Thai Media Spotlight: Fewer But Major Hits in Q4'17

Quality vs Quantity. The actual number of blockbusters in Q4'17 this year may not be so large, but we are expecting them to have quite an impact to...

Athaporn Arayasantiparb, CFA

Licensors and Retailers Increasingly Experiment with the "Pop-Up" Store Model in Licensing

Pop-up shop format works well in the licensing industry. They can act as billboards for the franchise, enabling licensors to communicate the brand...

Euromonitor International Ltd.

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